Newmont forms world’s largest gold miner with $10bn deal for Goldcorp January 14, 2019 Newmont Mining Corporation will balloon to become the world’s largest gold company as it buys Goldcorp in a deal valued at $10bn (£7.8bn). The share-based deal will produce a new global behemoth, bringing together two companies who produced a combined 7.9m ounces of gold in 2017, giving it strong leverage over global gold prices. Read more: Shareholders [...]
Global equity bloodbath plunges FTSE 100 to six-month low October 11, 2018 A GLOBAL equity bloodbath plunged the FTSE 100 to its lowest level in six months on a “gut-churning” day for investors. The sell-off began in the US on Wednesday before spreading to Europe, Asia, and trading floors across the world on Thursday. Global growth concerns, the prospect of higher US interest rates, as well as [...]
Gold prices rise for fifth consecutive day on worries about China’s economic slowdown August 12, 2015 The price of gold went up for the fifth day in a row today, as uncertainty about China’s flagging economic growth had investors fleeing to safer havens. Rising 1.4 per cent to $1,124.01 an ounce, gold prices are recovering from the five-year low that had gold miners feeling the squeeze. Mining companies were buoyed by [...]
Gold prices buoyed by Fischer comments August 11, 2015 Gold prices climbed 0.9 per cent to reach a three-week high of $1,104.10 per troy ounce yesterday. It came after US central banker Stanley Fischer told Bloomberg TV there must be a rise in inflation before interest rates can be lifted. When rates go up, gold struggles to compete against interest-bearing investments, hitting prices.
Miner Randgold’s profit takes a tumble as gold loses its glitter amid price falls August 7, 2015 Randgold Resources yesterday said its pre-tax profit fell in the first half of 2015 due to lower gold prices and higher costs. However, the miner said its results stood strong against a sector “buckling under the pressure of the gold price downturn”. The FTSE 100-listed gold miner reported a pre-tax profit of $72m (£46.4m) in [...]
Brent crude oil edges towards $50 per barrel as gold price takes a breather July 28, 2015 Brent crude continued to edge down today, falling another 1.68 per cent in mid afternoon trading to $52.57 per barrel, its lowest price since January. Meanwhile, WTI crude, the US benchmark, stayed well below the $50 mark, at $47.40. The drop came as commodities prices continued to take a hammering: in recent weeks, precious metals [...]
Gold price hits five-year low: Is it all over for the precious metal? July 27, 2015 With prices at five-year lows, Annabelle Williams asks whether the precious metal is truly hammered The gold price has been hammered in the last few weeks, leaving the precious metal at the lowest prices for five years. Gold took a nosedive last week when an unknown entity – with considerable power, perhaps a [...]
Gold price rises yet again as investors expect little change in Fed statament April 28, 2015 The price of gold went up for the second day in a row today, rising 0.9 per cent to $1,212.62 an ounce. This is slightly less than yesterday, when the precious metal went up by two per cent in value. The gains reflect a belief among investors that the US Federal Reserve will take [...]
Randgold profit hit by poor gold price but dividend still increases March 30, 2015 PRE-TAX profit at gold miner Randgold Resources dropped to £353m last year, down from £402m in 2013. The group produced 1.15m oz of gold in 2014, up from 910,274 oz the previous year, and gold sales increased from £1.27bn to £1.43bn. Chairman Christopher Coleman said: “Against the background of a bear market in gold and [...]
Coining it? The case for gold bullion coins March 26, 2015 Gold has had a torrid few years and 2015 is unlikely to be any better. Respected analysts at Brazilian bank Itau Unibanco have forecast that the precious metal will post its third straight annual drop in price in 2015. Having plunged from highs of around $1,900 per troy ounce in 2011, the gold price now [...]